Home / Knowledge / News / Apparel/Garments / Vishal Retail finally finds suitors
Vishal Retail finally finds suitors
21
Sep '10
Debt-laden Delhi-based Vishal Retail will sell its retail trading business to Shriram Group of Chennai and the wholesale business, institutional sales and franchise operation to a private equity company, 'TPG Capital', with the combined deal totaling to Rs1 billion.

Pertaining to this, the board of retail group has decided to conduct a postal ballot, to seek shareholders' node for the deal.

Vishal operates retail chains, which include, Vishal, Vishal Retail, Vishal Megamart and Vishal Fashion Mart. The chain was affected drastically due to last year's economic slowdown and burdened by a debt of Rs 7.3 billion, as it had borrowed money in 2008-09 to widen its operations.

The proceeds from the assets sale will partly meet the debt of Rs 7.3 billion, which was lent to the company by leading bankers in India.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 27th Mar 2017

Himatsingka to disinvest 100% stake in Italian subsidiary

The board of directors at Indian home textiles manufacturer and...

Courtesy: Flipkart

Apparel/Garments | On 27th Mar 2017

Flipkart bags $1bn funding at lower valuation

In a new round of funding, Flipkart, one of India's biggest ecommerce ...

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Interviews View All

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search